Berkeley Energia's share price touches support with mine construction soon underway (BKY)

By Patricia Miller

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Berkeley Energia’s (LSE:BKY) is in the process of constructing a Uranium Mine in Spain and has received all the European Union and national level approvals required for the initial development. The Salamanca project is wholly owned by Berkeley which could be an interesting play on AIM for those bullish on the prospects of Uranium.

Uranium prices are still at near time lows, and a lack of investment throughout the industry could spark a snapback in the supply/demand balance. Berkeley is hoping to perform as a low-cost mine poised to take advantage of a resurgence in the sector.

The stock’s price has come back down to a well-established support line which has been previously tested on five occasions in the past year.  Price strength here could see the stock tackle overhead resistance that’s been ever closing in, enabling the next step up to take on previous highs. However, failure to hold this sturdy trendline would see a return to test past support in the low 40s.

Author: Stuart Langelaan

Disclosure:

The author of this piece does not own shares in the company mentioned.

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Topics:
Uranium
Companies:
Berkeley Energia

Author: Patricia Miller

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.